Opinion · Experience Journal

Ideas on experience,
behavior & change.

Insights, frameworks and analysis from the Renascence team — on customer experience, behavioral economics, service design and the future of how brands serve people.

01 —Featured

This month's read.

Behavioral EconomicsSeptember 2024 · 7 min read

Knowledge Illusion: Overestimating Understanding of Customer Needs

Imagine a company launching a new product, confident that it meets all customer needs perfectly. However, the product fails to gain traction because it doesn’t align with actual customer desires. This overconfidence in understanding customer needs is an example of the Knowledge Illusion.

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02 —All Articles

Ideas on experience,behavior & change.

This month's read.

Knowledge Illusion: Overestimating Understanding of Customer Needs

The Journal.

Less-Is-Better Effect: Preference for Smaller Sets of Better Items

Reciprocal Altruism: Mutual Benefit Driving Customer Loyalty

Reciprocity Bias: Customers’ Inclination to Return Favors

Lesser of Two Evils: Choosing the Least Negative Option

Lessons from Nike’s Customer Experience (CX) Strategy

Law of Small Numbers: Overestimating Accuracy of Small Samples

Leveraging AI for Enhanced Customer Experience (CX)

Liking Bias: Influence of Personal Affection on Decisions

Linguistic Framing: Impact of Language on Customer Perceptions

Locus of Control Bias: Internal vs. External Attribution of Control

Local Bias: Overemphasis on Nearby Information

Lessons from Zara’s Customer Experience (CX) Strategy

Malleability Heuristic: Judging Flexibility of Information

Memory Conformity: Memory Influenced by Others

Loss Discounting: Underestimating Potential Losses

Magnitude Bias: Misjudging the Magnitude of Events

Misleading Vividness: Overemphasis on Vivid Information

Money Illusion: Focusing on Nominal Rather Than Real Values

Modality Effect: Influence of Sensory Modality on Perception

Metacognitive Bias: Overestimating One’s Understanding

Moral Credential Effect: Using Past Good Deeds to Justify Future Bad Ones

Mere Exposure Effect: Familiarity as a Driver of Customer Preference

Mystery Shopping Done Right

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Ideas on experience,
behavior & change.